25 March 2010

Kiama property market attracting premium prices

Leading south coast property firm Raine & Horne Kiama is urging sellers to list their properties now and take advantage of a tight market caused by a stock shortage.

Raine & Horne Kiama proprietor Stephen Pryor said the Kiama market was performing well, but like property markets nationally, there were not enough listings to satisfy buyer requests.

“We’re running short of stock and the lower end of our market is certainly disappearing, with properties around $400,000 and closer to Kiama central very popular,” Mr Pryor said.

“With that bracket leaving, it is forcing prices up and this has passed into the mid-range market.

“We don’t have an equal number of buyers to sellers. There are lots of vendors thinking about selling, but they’re not doing it. Now is the right time, because they will get a premium price for their property,” he said.

Units were selling at a speedy rate in the current Kiama market.

“A unit at the low end of the market sells quickly, but two years ago it would have been sitting there. I think this will continue past the end of June because we have more investors in the market now," he said.

A rising market is not the only cause for celebration at the Raine & Horne Kiama office. The office earned two awards at the 2009 Raine & Horne NSW/ACT Chairman’s Awards, held at the Four Seasons Hotel, Sydney recently. Steve Pryor and salesperson Robert Perea were elevated to the Chairman's Awards.

Raine & Horne CEO Angus Raine commended Raine & Horne Kiama for its outstanding contribution and dedication to the property sector on the south coast.

“The team at Raine & Horne Kiama has capitalised on the area’s popularity. In addition, their awards underline Raine & Horne Kiama’s consistent ability to remain true to its core business, which is achieving property sales and providing the very best property services to vendors and buyers," Mr Raine said.

Raine & Horne is an iconic Australian property firm, with more than 400 offices worldwide. Also an established Superbrand along with the likes of Qantas, Vegemite, Woolworths and Myer, the company has four distinct property service brands including Raine & Horne Residential, Raine & Horne Commercial, Raine & Horne Financial Services and Raine & Horne Rural.

For all your property needs contact Raine & Horne Kiama on (02) 4232 1688.

For more media information, contact Stephen Pryor on 0408 423 328.